new markets

Over Half of UK Small Businesses Set to Enter New Markets by 2017

Over Half of UK Small Businesses Set to Enter New Markets by 2017

More than half of UK small and medium businesses plan to enter new overseas markets by 2017, with 34% looking to export and a further 30% hoping to tap into new markets in the UK, research by Albion Ventures has found. Of the 34% of firms that plan to expand overseas, the report found that 19% expect to export to markets outside of the EU while 15% are planning to stick to a single market. Medium-sized firms appear to be more ambitious than small companies when it comes to growth – 77% expect to target new markets in the next two years compared to 53% of small companies. In regards to sectors, manufacturing firms led the way with 75% planning to enter new markets, followed by marketing and advertising at 68% and IT/ telecoms at 56%. Regionally, London-based firms are the most likely to ent... »

Three Quarters of UK Small Businesses Not Exporting

52% of survey respondents identify ‘lack of support’ as main barrier to exporting despite 35% of businesses identifying new markets as essential to business success Despite a growth in UK exports, only a quarter of small and mid-sized businesses are trading overseas – with over half stating they require more support to do so. A FedEx survey of 1,000 businesses entitled The Great British Export Report revealed that, although only a quarter of small and mid-sized businesses are exporting, 35% of the respondents identified tapping into new markets as essential to their business’ success in the next 12 months. Furthermore, of those companies that are exporting 41% predict that in five years their business will be mostly international. Despite the government setting an export target of £1tn by ... »